June 25, 2024
Semaglutide Market

Semaglutide Market Propelled by the Growing Popularity of Weight Loss Drugs

Semaglutide is an analog of the glucagon-like peptide-1 (GLP-1) hormone that is used for the treatment of obesity and type 2 diabetes. It mimics the effects of endogenous GLP-1 and regulates appetite and food intake. The growing prevalence of obesity and diabetes across the world has led to a surge in demand for therapeutic agents such as semaglutide that aid in effective weight loss and glycemic control. The global Semaglutide Market is estimated to be valued at US$ 15.8 Bn in 2024 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increasing popularity of weight loss drugs and the efficacy of semaglutide for tackling obesity has emerged as a key trend propelling the growth of the global semaglutide market. Semaglutide has been found to promote significant weight loss compared to other anti-obesity medications. It stimulates GLP-1 receptors in the brain to suppress appetite and induce feelings of fullness. Clinical trials have shown that when combined with lifestyle interventions, semaglutide injection treatment led to average weight loss of 15% over 68 weeks among obese or overweight adults without diabetes. The ability of semaglutide to effectively aid in long term weight control within therapeutically safe limits has boosted its demand considerably.

SWOT Analysis

Strength: Semaglutide is superior to other GLP-1 RAs in terms of efficacy. It helps lower blood sugar levels more than other drugs with fewer side effects.
Weakness: High costs associated with Semaglutide treatment. Limited production capacity could hamper meeting growing demand.
Opportunity: Rising prevalence of diabetes and obesity globally drives the market. Increasing awareness about benefits of semaglutide also augments growth.
Threats: Entry of generics and biosimilars may impact revenues of leading brands. Stringent regulations and extended approval timelines present challenges.

Key Takeaways

The Global Semaglutide Market Size is expected to witness high growth.

Regional analysis – North America currently dominates the market and is expected to maintain its lead throughout the forecast period. The US accounts for the largest share due to high diabetes prevalence and favorable reimbursement scenario. However, Asia Pacific is poised to grow at the fastest pace owing to rising healthcare expenditures and increasing focus of leading players on emerging countries.

Key players – Key players operating in the semaglutide market are F. Hoffmann-La Roche AG, Boehringer Ingelheim, Bayer AG, Pfizer Inc., Biogen, Daiichi Sankyo, Bristol-Myers Squibb, Johnson & Johnson, AstraZeneca, SanBio and Athersys Inc. F. Hoffmann-La Roche AG and Novo Nordisk A/S are the major pharmaceutical companies commercializing semaglutide under the brands Rybelsus and Ozempic respectively. The market is dominated by these two players who are focusing on new product launches and geographical expansions.

*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it